Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.
In accounting, insolvency is the state of being unable to pay the debts, by a person or company (debtor), at maturity; those in a state of insolvency are said to be insolvent. There are two forms: cash-flow insolvency and balance-sheet insolvency.
Gonda district is one of the districts of Uttar Pradesh, India. The city of Gonda is the district headquarters, and also the administrative centre for the Devipatan Division. The total area of Gonda district is 4,003 km2 (1,546 sq mi).
Balrampur is a town and a municipal board in Balrampur district in the state of Uttar Pradesh, India. It is situated on the bank of river Rapti and is the district headquarters of Balrampur district.
The Ministry of Corporate Affairs is an Indian government ministry primarily concerned with administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008, and the Insolvency and Bankruptcy Code, 2016.
Tata Steel BSL Limited, formerly Bhushan Steel Limited, was the largest manufacturer of auto-grade steel in India.
Bajaj Hindusthan Sugar Ltd. (BHSL) is a sugar producer in India, Asia's Number 1 and World's Number 4 integrated sugar company, it has an aggregated sugarcane crushing capacity of 136,000 tonnes crushed per day (TCD), and alcohol distillation capacity of 800 kilo liters per day (KLD) across 14 locations in the north Indian State of Uttar Pradesh (UP). The company is a leader in the Asian and Indian sugar industry and is also one of the largest producer of green fuel ethanol in India. It is a member of Bajaj Group. The company is headquartered in Mumbai.
UltraTech Cement Limited is an Indian multinational cement company based in Mumbai. It is the largest manufacturer of grey cement, ready-mix concrete (RMC) and white cement in India and 5th largest around the globe with an installed capacity of 152.70 million tonnes per annum and 119 million tonnes per annum sales volume.
Essar Steel was a common name of the steel manufacturing companies of the Essar Group of Companies. Its main subsidiary was Essar Steel India Limited, a fully integrated flat carbon steel manufacturer based in Mumbai, which owned and operated a integrated steel plant in Hazira, Surat district of Gujarat state. In addition, it had also a beneficiation plant at Bailadilla, Chhattisgarh, and pellet plants at Visakhapatnam, Andhra Pradesh, and Paradeep, Odisha.
Ramesh Datla is an Indian industrialist and the Chairman of Elico Limited, India's first analytical instruments company, established in 1960. He also serves as Chairman of Elico Healthcare Services, a leading player in the healthcare IT and ITES sector.
The Indian Corporate Law Service (Hindi: भारतीय कॉरपोरेट विधि सेवा), abbreviated as ICLS, is one of the Central Civil Services and it functions under the Ministry of Corporate Affairs, Government of India. The service is entrusted with the responsibility of the implementation of Companies Act,1956(now repealed), Companies Act, 2013 and The Limited liability Partnership Act, 2008.
Preeti Malhotra has been the Chairman of the Smart Bharat Group, a diversified conglomerate, with interests in reality, hospitality, entertainment, preventive healthcare, finance and also venturing into new age projects. This is a part of Smart Group which has its footprint across India, China, ASEAN, Middle-East, USA, UK and Africa. Preeti also serves as a director on the board of several group of companies.
Bhupender Yadav is an Indian politician who is serving as 20th Minister of Environment, Forest and Climate Change since 2024. He is also a Member of Parliament, Lok Sabha from Alwar. He is the national general secretary of the Bharatiya Janata Party. He is a Member of Parliament in the Rajya Sabha, representing the state of Rajasthan, a position he has held since 2012. He was reelected in April 2018.
The National Company Law Tribunal (NCLT) is a quasi-judicial body in India that adjudicates issues relating to Indian companies. The tribunal, established under the Companies Act 2013, was constituted on 1 June 2016 by the government of India and is based on the recommendation of the V. Balakrishna Eradi committee on law relating to the insolvency and the winding up of companies.
Sankar Chakraborti is the Group Chief Executive Officer of Acuité Ratings & Research Limited, a credit rating agency, accredited by Reserve Bank of India as an External Credit Assessment Institution under New Capital Adequacy Framework, and registered with Securities and Exchange Board of India,. He is also the Chairman of SMERA Ratings Private Limited, and Chairman of ESG Risk Assessments & Insights Limited, India's first ESG Rating Agency.
Radhe Shyam Goenka is an Indian entrepreneur, co-founder and whole time Director of Emami, a diversified business conglomerate engaged in the business of FMCG, paper, real estate, edible oil & bio-diesel, health care cement, pharma retail, book & leisure retail, solar power and contemporary art. Radhe is among the top 100 richest Indians and listed on Forbes world's billionaire.
Meenakshi Sargogi was an Indian industrialist and the former managing director and the incumbent non-executive director of Balrampur Chini Mills. She is credited with the revival of a loss-making sugar business into a profitable multi-focussed industrial conglomerate. She received the fourth highest civilian award of the Padma Shri from the Government of India in 1992 for her contributions to the Indian sugar industry.
The Insolvency and Bankruptcy Code, 2016 (IBC) is an Indian law which creates a consolidated framework that governs insolvency and bankruptcy proceedings for companies, partnership firms, and individuals.
The Insolvency and Bankruptcy Board of India (IBBI) is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India. It was established on 1 October 2016 and given statutory powers through the Insolvency and Bankruptcy Code, which was passed by Lok Sabha on 5 May 2016. It covers Individuals, Companies, Limited Liability Partnerships and Partnership firms. The new code will speed up the resolution process for stressed assets in the country. It attempts to simplify the process of insolvency and bankruptcy proceedings. It handles the cases using two tribunals like NCLT and Debt recovery tribunal.
The Institute of Company Secretaries of India (ICSI) is a national professional body in India under the ownership of Ministry of Corporate Affairs, Government of India with the objective of promoting, regulating and developing the profession of company secretaries in India. It is headquartered in New Delhi, has four regional offices at New Delhi, Chennai, Kolkata and Mumbai, and has 70 chapters around the country.
